heating oilprice decreases The average retail price for home heating oil fell 7.6 cents from a week ago to $2.97 per gallon. That's down $1.05 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.94 per gallon, down 6.7 cents from last week, and down $1.07

heating oilprice decreases The average retail price for home heating oil fell 6.3 cents from a week ago to $2.91 per gallon. That's down $1.10 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.88 per gallon, down 6.8 cents from last week, and down $1.13

heating oilprice decreases The average retail price for home heating oil fell 7.5 cents from a week ago to $2.84 per gallon. That's down $1.22 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.80 per gallon, down 7.4 cents from last week, and down $1.23

heating oilprice decreases The average retail price for home heating oil fell 4.1 cents from a week ago to $2.89 per gallon, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.84 per gallon, down 5.4 cents from last week

heating oilprice decreases The average retail price for home heating oil fell 3.6 cents from a week ago to $3.04 per gallon. That's down 99.4 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $3.01 per gallon, down 3.6 cents from last week, and down $1.01

Gap between U.S. and world oilprices to be cut by more than half over next two years The current wide price gap between a key U.S. and a world benchmark crude oil is expected to narrow significantly over the next two years. The spot price for U.S. benchmark West Texas Intermediate crude oil, also known as WTI , averaged $94 a barrel in 2012. That's $18 less than North Sea Brent oil, which is a global benchmark crude that had an average price of $112 last year. The new monthly forecast from the

heating oilprices available The average retail price for home heating oil is $2.41 per gallon, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region currently average $2.35 per gallon. This is Marcela Rourk with EIA, in Washington.

heating oilprices available The average retail price for home heating oil is $3.52 per gallon. That's down 32.7 cents from a year ago, based on the U.S. Energy Information Administration's weekly residential heating fuel price survey. Heating oilprices in the New England region are at $3.48 per gallon, down 29.1 cents from a year ago. This is Marcela Rourk, with EIA, in Washington

heating oilprice increases The average retail price for home heating oil rose 6-tenths of a cent from a week ago to $2.18 per gallon. That's down 79 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region are at $2.13 per gallon, unchanged from last week, and down 88

heating oilprice decreases The average retail price for home heating oil fell 1.9 cents from a week ago to $2.16 per gallon. That's down 75 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region are at $2.11 per gallon, down 2.8 cents from last week, and down 77

heating oilprice decreases The average retail price for home heating oil fell 5.1 cents from a week ago to $2.11 per gallon. That's down 72 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region are at $2.05 per gallon, down 5.3 cents from last week, and down 75

heating oilprice decreases The average retail price for home heating oil fell 5 cents from a week ago to $2.06 per gallon. That's down 75 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region are at $2.01 per gallon, down 4.1 cents from last week, and down 78

heating oilprice decreases The average retail price for home heating oil fell 1.8 cents from a week ago to $2.82 per gallon. That's down $1.36 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.79 per gallon, down 1.5 cents from last week, and down $1.34

heating oilprice increases The average retail price for home heating oil rose 1.8 cents from a week ago to $2.08 per gallon. That's down 72 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region are at $2.02 per gallon, up 3-tenths of a cent from last week, and down 76

heating oilprice decreases The average retail price for home heating oil fell 1.9 cents from a week ago to $2.80 per gallon. That's down $1.44 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.78 per gallon, down 1.2 cents from last week, and down $1.40

heating oilprice increases The average retail price for home heating oil rose 1 cent from a week ago to $2.09 per gallon. That's down 82 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region are at $2.02 per gallon, up 8-tenths of a cent from last week, and down 85

Residential heating oilprice increases The average retail price for home heating oil rose 1.1 cents from a week ago to $2.10 per gallon. That's down 94 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region are at $2.04 per gallon, up 2.3 cents from last week, and down 95

Residential heating oilprice decreases The average retail price for home heating oil fell 9-tenths of a cent from a week ago to $2.09 per gallon. That's down $1.09 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region are at $2.04 per gallon, down 1-tenth of a cent from last week, and down $1.11

Residential heating oilprice decreases The average retail price for home heating oil fell 5-tenths of a cent from a week ago to $2.09 per gallon. That's down $1.20 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region are at $2.03 per gallon, down 9-tenths of a cent from last week, and down $1.22

Residential heating oilprice increases The average retail price for home heating oil rose 6-tenths of a cent from a week ago to $2.10 per gallon. That's down $1.11 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region are at $2.04 per gallon, up 5-tenths of a cent from last week, and down $1.14

Residential heating oilprice increases The average retail price for home heating oil rose 2.6 cents from a week ago to $2.12 per gallon. That's down 91 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region are at $2.06 per gallon, up 2.1 cents from last week, and down 94

Residential heating oilprice increases The average retail price for home heating oil rose 1 cent from a week ago to $2.13 per gallon. That's down 80 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region are at $2.07 per gallon, up 9-tenths of a cent from last week, and down 83

heating oilprice decreases The average retail price for home heating oil fell 10.5 cents from a week ago to $2.93 per gallon, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.90 per gallon, down 10.4 cents from last week. This is Marcela Rourk

heating oilprice decreases The average retail price for home heating oil fell 2.3 cents from a week ago to $2.38 per gallon. That's down 99 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.32 per gallon, down 3.1 cents from last week, and down $1.00

heating oilprice decreases The average retail price for home heating oil fell 1.5 cents from a week ago to $2.36 per gallon. That's down 97 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.31 per gallon, down 2-tenths of a cent from last week, and down 96

heating oilprice decreases The average retail price for home heating oil fell 3 cents from a week ago to $2.33 per gallon. That's down 89 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.28 per gallon, down 3.5 cents from last week, and down 9

heating oilprice decreases The average retail price for home heating oil fell 7.6 cents from a week ago to $2.26 per gallon. That's down 89 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.19 per gallon, down 8.9 cents from last week, and down 92

heating oilprice decreases The average retail price for home heating oil fell 4.5 cents from a week ago to $2.21 per gallon. That's down 87 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.15 per gallon, down 3.6 cents from last week, and down 89

heating oilprice decreases The average retail price for home heating oil fell 3.5 cents from a week ago to $2.18 per gallon. That's down 87 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.13 per gallon, down 2.2 cents from last week, and down 88

5, 2014 Residential heating oilprice decreases The average retail price for home heating oil fell 1.9 cents from a week ago to $3.43 per gallon. That's down 39 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $3.38 per gallon, down 2.6 cents from last week, and down 38.7

7, 2014 Residential heating oilprice decreases The average retail price for home heating oil fell 7.8 cents from a week ago to $3.14 per gallon. That's down 81.1 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $3.12 per gallon, down 6.5 cents from last week, and down 79.9

heating oilprice decreases The average retail price for home heating oil fell 2 cents from a week ago to $3.36 per gallon. That's down 52.5 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $3.31 per gallon, down 1.3 cents from last week, and down 52.6

heating oilprice decreases The average retail price for home heating oil fell 6.3 cents from a week ago to $3.08 per gallon. That's down 90.3 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $3.05 per gallon, down 6.8 cents from last week, and down 91.6

2, 2014 Residential heating oilprices decline The average retail price for home heating oil is $3.48 per gallon. That's down 4.5 cents from a week ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region are at $3.43 per gallon, down 5.7 cents from last week. This is Amerine Woodyard

heating oilprices decrease The average retail price for home heating oil fell 1.7 cents from a week ago to $4.02 per gallon. That's up 1.7 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to 4.01 per gallon, down 6-tenths of a cent from last week, and up 5.8

9, 2014 Residential heating oilprice decreases The average retail price for home heating oil fell 2.9 cents from a week ago to $3.45 per gallon. That's down 36.6 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $3.41 per gallon, down 3 cents from last week, and down 35

heating oilprices increase The average retail price for home heating oil rose 5.4 cents from a week ago to $4.04 per gallon. That's up 4.9 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region rose to 4.02 per gallon, up 5.6 cents from last week, and up 8

3, 2014 Residential heating oilprices increase The average retail price for home heating oil rose 4.4 cents from a week ago to $4.06 per gallon. That's up 4.1 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region rose to 4.03 per gallon, up 2.5 cents from last week, and up 6

heating oilprices increase The average retail price for home heating oil rose 12 cents from a week ago to $4.18 per gallon. That's up 13 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region rose to 4.13 per gallon, up 9.8 cents from last week, and up 12.9 cents from a

heating oilprices increase The average retail price for home heating oil rose 3.9 cents last week to $3.96 per gallon. That's down 2.6 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. The price for heating oil in the New England region averaged 3.92 per gallon, up 5.2 cents from last week, and 1.7

heating oilprices increase The average retail price for home heating oil rose 2.9 cents from a week ago to $3.98 per gallon. That's up 6-tenths of a penny from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region rose to 3.96 per gallon, up 4.1 cents from last week, and up 4.8

heating oilprice decreases The average retail price for home heating oil fell 8 cents from a week ago to $3.21 per gallon. That's down 98.7 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $3.18 per gallon, down 8.1 cents from last week, and down 96.1 cents from a year ago. This is Marcela Rourk

heating oilprice decreases The average retail price for home heating oil fell 17.7 cents from a week ago to $3.03 per gallon. That's down $1.09 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.99 per gallon, down 18.2 cents from last week, and down $1.08 from a year ago. This is Marcela Rourk

heating oilprice decreases The average retail price for home heating oil fell 3.8 cents from a week ago to $3.33 per gallon. That's down 59.1 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $3.28 per gallon, down 3.7 cents from last week, and down 58.8 cents from a year ago. This is Marcela Rourk, with EIA, in Washington.

6, 2014 Residential heating oilprice decreases The average retail price for home heating oil rose 1.6 cents from a week ago to $4.24 per gallon. That's up 8.9 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region rose to 4.16 per gallon, up 6-tenths of a cent from last week, and up 3.9 cents from a year ago. This is Marcela Rourk, with EIA, in Washington. For more information, contact

4 Residential heating oilprice decreases The average retail price for home heating oil fell 1.6 cents from a week ago to $3.42 per gallon. That's down 39.5 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $3.37 per gallon, down 1.2 cents from last week, and down 39.7 cents from a year ago. This is Marcela Rourk, with EIA, in Washington. For more information, contact Marcela

heating oilprice decreases The average retail price for home heating oil fell 10.5 cents from a week ago to $3.22 per gallon. That's down 73.6 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $3.19 per gallon, down 9 cents from last week, and down 73.1 cents from a year ago. This is Marcela Rourk, with EIA, in Washington.

heating oilprice increases The average retail price for home heating oil rose 11.2 cents from a week ago to $2.91 per gallon. That's down $1.33 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region rose to $2.87 per gallon, up 9.8 cents from last week, and down $1.29 from a year ago. This is Marcela Rourk with EIA, in Washington.

9, 2015 Residential heating oilprice increases The average retail price for home heating oil rose 11.7 cents from a week ago to $3.03 per gallon. That's down $1.20 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region rose to $2.99 per gallon, up 12 cents from last week, and down $1.16 from a year ago. This is Marcela Rourk

5, 2015 Residential heating oilprice increases The average retail price for home heating oil rose 14.7 cents from a week ago to $3.19 per gallon. That's down $1.06 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region rose to $3.15 per gallon, up 15.9 cents from last week, and down $1.00 from a year ago. This is Marcela Rourk

heating oilprice increases The average retail price for home heating oil rose 10.3 cents from a week ago to $3.29 per gallon. That's down 93.7 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region rose to $3.26 per gallon, up 10.4 cents from last week, and down 89.3 cents from a year ago. This is Marcela Rourk

9, 2014 Residential heating oilprice decreases The average retail price for home heating oil fell 3.3 cents from a week ago to $3.38 per gallon. That's down 43.9 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $3.33 per . gallon, down 3.5 cents from last week, and down 44.6 cents from a year ago

5, 2014 Residential heating oilprices decrease The average retail price for home heating oil fell 1.8 cents from a week ago to $4.00 per gallon. That's down 2-tenths of a cent from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to 4.01 per gallon, down 8-tenths of a cent from last week, and up 4.4

5, 2014 Residential heating oilprices increase The average retail price for home heating oil rose 6.5 cents from a week ago to $4.24 per gallon. That's up 14.9 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region rose to 4.17 per gallon, up 4.1 cents from last week, and up 13.4 cents from a year ago. This is Amerine Woodyard, with EIA, in Washington. For more information, contact Marcela

4, 2013 Residential heating oilprices increase The average retail price for home heating oil rose 2.9 cents from last week to $3.92 per gallon. That's down 11 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. The price for heating oil in the New England region averaged 3.87 per gallon, up 2.5 cents from last week, but down 7.1 cents from a year earlier. This is Marlana Anderson

Higher crude oilprices contribute to higher summer gasoline prices The recent rise in crude oilprices will be passed on to consumers in the form of higher gasoline prices this summer but drivers will still find lower prices at the pump compared to what they paid last year. In its new monthly forecast, the U.S. Energy Information Administration said the retail price for regular-grade gasoline will average $2.27 per gallon this summer. That's 6 cents higher than previously forecast but still

heating oilprice virtually unchanged The average retail price for home heating oil fell 1-tenth of a cent from a week ago to $2.13 per gallon. That's down 76 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region are at $2.07 per gallon, down 2-tenths of a cent from last week, and down 78

9, 2014 Residential heating oilprice decreases The average retail price for home heating oil fell 7.2 cents from a week ago to $4.12 per gallon. That's up 9.4 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to 4.07 per gallon, down 6.3 cents from last week, and up 9.4

For a clear picture of how oilprices develop, the author steps away from the price levels to which the world is accustomed, and evaluates scientifically. What makes prices jump from one notch to another The move results from a political or economic shock or the perception of a particular position by the futures market and the media. The shock could range from a war or an assassination to a promise of cooperation among OPEC members (when believed by the market) or to speculation about another failure at an OPEC meeting. In the oil market, only a couple of factual figures can provide a floor to the price of oil. The cost of production of oil in the Gulf is around $2 to $3/bbl, and the cost of production of oil (capital and operating costs) in key non-OPEC areas is well under $10/bbl. With some adjustments for transport and quality, a price range of $13/bbl to $16/bbl would correspond to a reasonable sustainable floor price. The reason for prices above the floor price has been a continuous fear of oil supply interruptions. That fear kept prices above the floor price for many years. The fear factor has now almost fully disappeared. The market has gone through the drama of the Iranian Revolution, the Iran-Iraq war, the tanker war, the invasion of Kuwait, and the expulsions of the Iraqis. And still the oil flowed -- all the time. It has become abundantly clear that fears above the oil market were unjustified. Everyone needs to export oil, and oil will flow under the worst circumstances. The demise of the fear factor means that oilprices tend toward the floor price for a prolonged period.

4 Residential heating oilprices virtually unchanged The average retail price for home heating oil rose 2-tenths of a cent from a week ago to $4.24 per gallon. That's up 8.2 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to 4.16 per gallon, down 1.7 cents from last week, and up 3.2 cents from a year ago. This is Marcela Rourk, with EIA, in Washington. For more information,

0, 2014 Residential heating oilprice decreases The average retail price for home heating oil fell 1.9 cents from a week ago to $4.23 per gallon. That's up 5.1 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to 4.15 per gallon, down 8-tenths of a cent from last week, and up 1.5 cents from a year ago. This is Marcela Rourk, with EIA, in Washington. For more information, contact

5, 2014 Residential heating oilprice decreases The average retail price for home heating oil fell 1.6 cents from a week ago to $4.23 per gallon. That's up 14.9 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to 4.15 per gallon, down 6-tenths of a cent from last week, and up 10.8

4 Residential heating oilprice decreases The average retail price for home heating oil fell 3.1 cents from a week ago to $4.20 per gallon. That's up 13.6 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to 4.14 per gallon, down 1.4 cents from last week, and up 11 cents from a year ago. This is Marcela Rourk, with EIA, in Washington. For more information, contact Marcela Rourk at

heating oilprices virtually unchanged The average retail price for home heating oil fell 4-tenths of a penny from a week ago to $3.95 per gallon. That's down 8-tenths of a penny from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region rose 3.92 per gallon, up 3-tenths of a cent from last week, and up 3 cents from a year ago

Short Term Energy Outlook 1 STEO Supplement: Why are oilprices so high? During most of the 1990s, the West Texas Intermediate (WTI) crude oilprice averaged close to $20 per barrel, before plunging to almost $10 per barrel in late 1998 as a result of the Asian financial crisis slowing demand growth while extra supply from Iraq was entering the market for the first time since the Gulf War. Subsequently, as Organization of Petroleum Exporting Countries (OPEC) producers more closely adhered to a

The purpose of this paper is to: (1) examine how world oilprices have behaved during past oil supply disruptions, (2) attempt to understand why world oilprices have behaved during disruptions as they have, and (3) see what history foretells, if anything, for the behavior of world oilprices during future oil supply disruptions.

Over the long term, the Annual Energy Outlook 2007 (AEO) projection for world oilprices -- defined as the average price of imported low-sulfur, light crude oil to U.S. refiners -- is similar to the AEO2006 projection. In the near term, however, AEO2007 projects prices that are $8 to $10 higher than those in AEO2006.

5 U.S. gasoline price to continue falling through December on low oilprices U.S. drivers will continue to see the effects of low crude oilprices as gasoline prices are expected to decline through the rest of this year. In its new forecast, the U.S. Energy Information Administration said the monthly retail price for regular-grade gasoline is expected to drop from a monthly average of $2.64 per gallon in August to $2.03 in December. The recent drop in the price of crude oil which currently

World oilprices in Annual Energy Outlook 2005 are set in an environment where the members of OPEC (Organization of the Petroleum Exporting Countries) are assumed to act as the dominant producers, with lower production costs than other supply regions or countries. Non-OPEC oil producers are assumed to behave competitively, producing as much oil as they can profitability extract at the market price for oil. As a result, the OPEC member countries will be able effectively to set the price of oil when they can act in concert by varying their aggregate production. Alternatively, OPEC members could target a fixed level of production and let the world market determine the price.

World oilprices in the Annual Energy Outlook 2006 (AEO) reference case are substantially higher than those in the AEO2005 reference case. In the AEO2006 reference case, world crude oilprices, in terms of the average price of imported low-sulfur, light crude oil to U.S. refiners, decline from current levels to about $47 per barrel (2004 dollars) in 2014, then rise to $54 per barrel in 2025 and $57 per barrel in 2030. The price in 2025 is approximately $21 per barrel higher than the corresponding price projection in the AEO2005 reference case.

Improved oil refinery operations and cheaper crude oil to help reduce gasoline prices U.S. gasoline prices are expected to fall as more oil refineries come back on line and crude oilprices decline. In its new monthly forecast, the U.S. Energy Information Administration expects pump prices will average $3.38 a gallon during the second half of this year. That's down from the current weekly price of $3.50. A recovery in oil refinery fuel production, particularly from facilities that were temporary

The pricing of natural gas on a parity with crude oil has become an important issue in the international energy market. A prime example of the hostility that can arise over this issue is the ongoing argument between the US and Algeria over the price of SONATRACH's LNG exports to El Paso Co. Because LNG shipping and regasification costs add substantially to its delivered (c.i.f.) cost, price parity at the point of export (f.o.b.) would put LNG's price far above that of crude oil or natural gas. Other LNG exporters, such as Indonesia and Libya, seem to be adopting Algeria's pricing stance. Most European LNG customers believe that if f.o.b. price parity - or even some of the c.i.f. price-calculation methods - becomes the established formula, LNG will be priced out of many industrial markets. Without the big contracts from industry, existing LNG projects might not be economical.

The main thrust of this report is the development of a price record that would provide a basis for the identification of the areas of activity in the oil industry in which significant price changes have occurred, with expectation that this type of information could serve as a useful ingredient in the policy-making process. The study presents estimates of the selling price of a barrel of oil at three stages of operations of the industry - the wellhead, the refinery, and the end-use levels. Prices of individual classes of petroleum products at refineries and at the end-use level were also estimated. The price data are provided for benchmark years 1958, 1963, 1967, and 1972, as well as for 1973, 1974, 1975, and 1976 when crude oilprices rose considerably. The estimating procedure is briefly described in the study. The examination of the transmission of prices from market to market within the oil industry shows that the steep rise in 1973-1974 prices paid by end-users of petroleum products was due not only to the large increases in crude oilprices but also to the sizable increases in gross operating margins-labor costs, transportation, profits, etc. - at the refinery and distribution levels. In the post-embargo years of 1975 and 1976, prices continued to advance but at a slower pace. The refiners' gross margins in 1975, however, declined somewhat; they rose significantly above the 1974 level in 1976. The marketers' margins made further gains in 1975, but exhibited a decrease in 1976. The study includes a short discussion of the effects of rising oilprices in 1973-1976 on the profitability of the petroleum industry and the general price level.

The design of any effective oilpricing policy by producers depends on a knowledge of the nature and complexity of supply responses. This book examines the development of non-OPEX oil reserves on a field-by-filed basis to determine how much of the increase in non-OPEC production could be attributable to the price shocks and how much was unambiguously due to decisions and developments that preceded the price shocks. Results are presented in eighteen case-studies of non-OPEC producers. This study will be of interest to economists and planners specializing in the upstream and to policy makers both in oil producing and consuming countries.

Benjamin Franklin once expressed that there are only two things you can count on in life: death and taxes. Transportation analysts might add a third item to that list – fluctuating gas prices. Our interactive timeline illustrates when and why oilprices have fluctuated over the last 40 years, and explains how the Energy Department has worked to minimize our country’s vulnerability to these price swings.

Introduction Investor Flows and Speculation New Evidence on Investor Flows and OilPrices References Investor Flows and the 2008 Boom/Bust in OilPrices Kenneth J. Singleton Graduate School of Business Stanford University August, 2011 Introduction Investor Flows and Speculation New Evidence on Investor Flows and OilPrices References Investor Flows, Speculation, and OilPrices The role of speculation (broadly construed) in the dramatic rise and subsequent sharp decline in oilprices during 2008?

Low oilprices cut less into U.S. oil production U.S. crude oil production has been more resilient to lower oilprices since mid-2014 than many had expected. In its new forecast, the U.S. Energy Information Administration estimates domestic oil production averaged 9.6 million barrels per day in May the highest monthly output since 1972 despite a 60% drop in the number of rigs drilling for oil since last October. Output is up because producers are completing wells already drilled and those wells

A multiregion computable general equilibrium (CGE) model was used to assess the longrun effects of higher energy prices on agricultural production, prices, and trade. An increase in the price of energy enters farmers' cost functions through direct energy use and through the indirect influence of energy prices on intermediate inputs, especially fertilizers. The multiregion feature of the model allows us to include the effects of energy price shocks on economies of other regions and to assess price changes in a global context. Because farming is highly energy-intensive, agricultural output falls more than output in the manufacturing and services sectors of each region of the model. Real returns to farmland, a good indicator of farm welfare, falls in each of the four regions. The U.S. land price declines by 3.5 percent, a drop comparable to that resulting from a 20-percent multilateral agricultural policy liberalization in a similar model.

Lower oilprices also cutting winter heating oil and propane bills Lower oilprices are not only driving down gasoline costs, but U.S. consumers will also see a bigger savings in their heating oil and propane bills this winter. In its new short-term forecast, the U.S. Energy Information Administration said households that use heating oil most of which are located in the Northeast will pay on average $1,779 this winter. That's 25% less or a savings of nearly $600 compared with last winter. The

Department of Energy 9: July 13, 2009 OilPrice and Economic Growth, 1970-2008 Fact #579: July 13, 2009 OilPrice and Economic Growth, 1970-2008 Major oilprice shocks have disrupted world energy markets five times in the past 30 years - 1973-74, 1979-80, 1990-1991, 1999-2000 and again in 2008. Most of the oilprice shocks were followed by an economic recession in the U.S. OilPrice and Economic Growth, 1970-2008 Graph showing the five times that major oilprice shocks disrupted world energy

| Department of Energy Gas Prices and Oil Consumption Would Increase Without Biofuels Fact Sheet: Gas Prices and Oil Consumption Would Increase Without Biofuels Secretary of Energy Samuel W. Bodman and Secretary of Agriculture Edward T. Schafer sent a letter on June 11, 2008 to Senator Jeff Bingaman addressing a number of questions related to biofuels, food, and gasoline and diesel prices. This is a fact sheet on how biofuels are reducing America's dependence on oil. Fact Sheet: Gas Prices

If oil and natural gas were perfect substitutes in all markets where they are used, market forces would be expected to drive their delivered prices to near equality on an energy-equivalent basis. The price of West Texas Intermediate (WTI) crude oil generally is denominated in terms of barrels, where 1 barrel has an energy content of approximately 5.8 million Btu. The price of natural gas (at the Henry Hub), in contrast, generally is denominated in million Btu. Thus, if the market prices of the two fuels were equal on the basis of their energy contents, the ratio of the crude oilprice (the spot price for WTI, or low-sulfur light, crude oil) to the natural gas price (the Henry Hub spot price) would be approximately 6.0. From 1990 through 2007, however, the ratio of natural gas prices to crude oilprices averaged 8.6; and in the Annual Energy Outlook 2009 projections from 2008 through 2030, it averages 7.7 in the low oilprice case, 14.6 in the reference case, and 20.2 in the high oilprice case.

Over the 1995-2005 period, crude oilprices and U.S. natural gas prices tended to move together, which supported the conclusion that the markets for the two commodities were connected. Figure 26 illustrates the fairly stable ratio over that period between the price of low-sulfur light crude oil at Cushing, Oklahoma, and the price of natural gas at the Henry Hub on an energy-equivalent basis.

Absence of a unified OPEC policy is largely attributed to frequent Saudi Arabian pricing/production decisions to influence oilprice changes. Such demonstrated ability in the past prompted many to attribute oilprice current downward rigidity to Saudi Arabian unwillingness to increase production. Empirically, this study presents a simultaneous equations oil market model in a simulation setting to test this hypothesis and to predict future oilprices under specific assumptions. Major conclusions are: (1) contrary to popular belief the international oil industry rarely, if ever, operated competitively; (2) the sole association of oilprice increases to the embargo of 1973 is an outright distortion of facts; (3) the roots of the so-called energy crisis lie in: (a) post-World War II West European reconstruction, (b) US industrial adjustments from a war to a consumer-oriented economy, (c) the continuously dwindling oil reserves in major industrial countries, and (d) the comparative advantage of location and cost-per-unit of the Middle Eastern oil; (4) barring further market institutionalizations, a per barrel price below $15 by the end of 1990 (in constant 1984 prices) is not unlikely; and (5) future Saudi Arabian pricing/production policies to exert downward pressures on prices could lead to price increases, if perceived to be permanent by the OPEC group excluding Saudi Arabia.

Financial Review of the GlobalOil and Natural Gas Industry: First-quarter 2016 Markets and Financial Analysis Team July 2016 Key findings for first-quarter 2016 * Brent crude oilprices averaged at the lowest level since 2004, significantly reducing profits and cash flow for energy companies. * Production increased from year-ago levels, but growth is decelerating as companies reduced capital expenditure. * Many companies were able to balance their capital expenditure with cash from operations.

Annual Energy Outlook 2008 (AEO) defines the world oilprice as the price of light, low-sulfur crude oil delivered in Cushing, Oklahoma. Since 2003, both "above ground" and "below ground" factors have contributed to a sustained rise in nominal world oilprices, from $31 per barrel in 2003 to $69 per barrel in 2007. The AEO2008 reference case outlook for world oilprices is higher than in the AEO2007 reference case. The main reasons for the adoption of a higher reference case price outlook include continued significant expansion of world demand for liquids, particularly in non-OECD (Organization for Economic Cooperation and Development) countries, which include China and India; the rising costs of conventional non-OPEC (Organization of the Petroleum Exporting Countries) supply and unconventional liquids production; limited growth in non-OPEC supplies despite higher oilprices; and the inability or unwillingness of OPEC member countries to increase conventional crude oil production to levels that would be required for maintaining price stability. The Energy Information Administration will continue to monitor world oilprice trends and may need to make further adjustments in future AEOs.

The oilprices reported in Annual Energy Outlook 2009 (AEO) represent the price of light, low-sulfur crude oil in 2007 dollars. Projections of future supply and demand are made for "liquids," a term used to refer to those liquids that after processing and refining can be used interchangeably with petroleum products. In AEO2009, liquids include conventional petroleum liquids -- such as conventional crude oil and natural gas plant liquids -- in addition to unconventional liquids, such as biofuels, bitumen, coal-to-liquids (CTL), gas-to-liquids (GTL), extra-heavy oils, and shale oil.

The growth of renewable energy and renewable fuels in the United States will be significantly greater under scenarios involving high oilprices and stricter controls on greenhouse gas (GHG) emissions, according to DOE's Energy Information Administration (EIA).

The U.S. Department of Energy prepared this Final Statement to FEA-FES-77-7 to assess the environmental and socioeconomic implications of a rulemaking on crude oilpricing incentives as pertains to the full range of oil production technologies (present as well as anticipated.)

Factors Influencing OilPrices: A Survey of the Current State of Knowledge in the Context of the 2007-08 OilPrice Volatility Louis H. Ederington, University of Oklahoma Chitru S. Fernano, University of Oklahoma Thomas K. Lee, U.S. Energy Information Administration Scott C. Linn, University of Oklahoma Anthony D. May, Wichita State University August 2011 Independent Statistics & Analysis www.eia.gov U.S. Energy Information Administration Washington, DC 20585 This paper is released to

For Immediate Release June 11, 2008 202-586-4940 Fact Sheet: Gas Prices and Oil Consumption Would Increase Without Biofuels Secretary of Energy Samuel W. Bodman and Secretary of Agriculture Edward T. Schafer sent a letter on June 11, 2008 to Senator Jeff Bingaman addressing a number of questions related to biofuels, food, and gasoline and diesel prices. The letter is available at http://www.energy.gov Without Biofuels, Gas Prices Would Increase $.20 to $.35 per Gallon. * The U.S. Department of

The purpose of this research is to estimate individual fuel prices within the residential sector. The data from four US Department of Energy, Energy Information Administration, residential energy consumption surveys were used to estimate the models. For a number of important fuel types - fuel oil, natural gas, and liquefied petroleum gas - the estimation presents a problem because these fuels are not used by all households. Estimates obtained by using only data in which observed fuel prices are present would be biased. A correction for this self-selection bias is needed for estimating prices of these fuels. A literature search identified no past studies on application of the selectivity model for estimating prices of residential fuel oil/kerosine, natural gas, and liquefied petroleum gas. This report describes selectivity models that utilize the Dubin/McFadden correction method for estimating prices of residential fuel oil/kerosine, natural gas, and liquefied petroleum gas in the Northeast, Midwest, South, and West census regions. Statistically significant explanatory variables are identified and discussed in each of the models. This new application of the selectivity model should be of interest to energy policy makers, researchers, and academicians.

Capital spending by oil and gas companies in and outside the US will rise in 1998, but that forecast may be jeopardized by the continuing plunge in oilprices. For operations in the US, oil and gas company capital spending is expected to move up in 1998 for the fourth year in a row. If the money is spent, it will be the highest industry investment level since 1985. Strong oil and gas prices and increased volumes have boosted company cash flow and profits the last few years, fueling increased spending. However, the near-term outlook has now been clouded by economic turmoil in a number of Asian countries and the recent collapse of oilprices. The paper discusses oil and gas prices, US upstream spending, US non-exploration and production spending, capital spending in Canada, and spending outside US and Canada.

This work applies the empirical mode decomposition (EMD) method to data on real quarterly oilprice (West Texas Intermediate - WTI) and U.S. gross domestic product (GDP). This relatively new method is adaptive and capable of handling non-linear and non-stationary data. Correlation analysis of the decomposition results was performed and examined for insights into the oil-macroeconomy relationship. Several components of this relationship were identified. However, the principal one is that the medium-run cyclical component of the oilprice exerts a negative and exogenous influence on the main cyclical component of the GDP. This can be interpreted as the supply-driven or supply-shock component of the oilprice-GDP relationship. In addition, weak correlations suggesting a lagging demand-driven, an expectations-driven, and a long-run supply-driven component of the relationship were also identified. Comparisons of these findings with significant oil supply disruption and recession dates were supportive. The study identified a number of lessons applicable to recent oil market events, including the eventuality of persistent economic and price declines following a long oilprice run-up. In addition, it was found that oil-market related exogenous events are associated with short- to medium-run price implications regardless of whether they lead to actual supply disruptions.

Are there Gains from Pooling Real- Time OilPrice Forecasts? Christiane Baumeister, Bank of Canada Lutz Kilian, University of Michigan Thomas K. Lee, U.S. Energy Information Administration February 12, 2014 Independent Statistics & Analysis www.eia.gov U.S. Energy Information Administration Washington, DC 20585 This paper is released to encourage discussion and critical comment. The analysis and conclusions expressed here are those of the authors and not necessarily those of the U.S. Energy

This report summarizes the results of a survey of residential No. 2 distillate fuel (home heating oil) and liquefied petroleum gas (propane) prices over the 1995--1996 heating season in Michigan. The Michigan`s Public Service Commission (MPSC) conducted the survey under a cooperative agreement with the US Department of Energy`s (DOE) Energy Information Administration (EIA). This survey was funded in part by a grant from the DOE. From October 1995 through March 1996, the MPSC surveyed participating distributors by telephone for current residential retail home heating oil and propane prices. The MPSC transmitted the data via a computer modem to the EIA using the Petroleum Electronic Data Reporting Option (PEDRO). Survey results were published in aggregate on the MPSC World Wide Web site at http://ermisweb.state.mi.us/shopp. The page was updated with both residential and wholesale prices immediately following the transmission of the data to the EIA. The EIA constructed the survey using a sample of Michigan home heating oil and propane retailers. The sample accounts for different sales volumes, geographic location, and sources of primary supply.

This article describes the sampling frames and basic data collection methods for petroleum price data reported by Energy Information Administration (EIA) and other Government agencies. In addition, it compares and contrasts annual average prices reported by EIA with comparable prices from the Bureau of Labor Statistics (BLS) CPI (Consumer Price Indexes) for the retail prices of residential No. 2 distillate, on-highway diesel fuel and motor gasoline (all grades.) Further, it compares refiner wholesale/resale prices for No. 2 fuel oil, No. 2 diesel fuel, motor gasoline (all grades,) kerosene-type jet fuel and residual fuel oil reported by EIA with comparable prices from the BLS PPI (Producer Price Index.) A discussion of the various crude oilprices and spot/futures prices published by EIA and other Government agencies is also included in the article.

This report presents a risk analysis of world conventional oil resource production, depletion, expansion, and a possible transition to unconventional oil resources such as oil sands, heavy oil and shale oil over the period 2000 to 2050. Risk analysis uses Monte Carlo simulation methods to produce a probability distribution of outcomes rather than a single value. Probability distributions are produced for the year in which conventional oil production peaks for the world as a whole and the year of peak production from regions outside the Middle East. Recent estimates of world oil resources by the United States Geological Survey (USGS), the International Institute of Applied Systems Analysis (IIASA), the World Energy Council (WEC) and Dr. C. Campbell provide alternative views of the extent of ultimate world oil resources. A model of oil resource depletion and expansion for twelve world regions is combined with a market equilibrium model of conventional and unconventional oil supply and demand to create a World Energy Scenarios Model (WESM). The model does not make use of Hubbert curves but instead relies on target reserve-to-production ratios to determine when regional output will begin to decline. The authors believe that their analysis has a bias toward optimism about oil resource availability because it does not attempt to incorporate political or environmental constraints on production, nor does it explicitly include geologic constraints on production rates. Global energy scenarios created by IIASA and WEC provide the context for the risk analysis. Key variables such as the quantity of undiscovered oil and rates of technological progress are treated as probability distributions, rather than constants. Analyses based on the USGS and IIASA resource assessments indicate that conventional oil production outside the Middle East is likely to peak sometime between 2010 and 2030. The most important determinants of the date are the quantity of undiscovered oil, the rate at

This study addresses the issue of the ban on exports of Alaskan crude oil. At present almost all crude oil production from Alaska must be sold in the United States, i.e., it may not be exported. This study examines the impact, mainly on the West Coast, of eliminating this export restraint. The study concentrates on two time periods. These are 1988, the most recent year for which complete data are available, and 1995, a year in which Alaskan production is projected to be substantially less than at present. This is the Energy Information Administration's (EIA's) second report on this subject. The first was released earlier in 1990. They differ principally in the years for which results are presented and in the models used to generate quantitative results. The first report was limited to 1988. The quantitative results for that year were based on use of a single region model and therefore did not take into account petroleum interactions among all areas of the world. Because of this limitation, quantitative results were limited to Alaskan crude oilprices. All other price and trade flow results were qualitative. In contrast, the present report covers both 1988 and 1995. The quantitative results are generated with use of a more comprehensive model, one which does take into account petroleum interactions among all areas of the world. The model-generated results cover both crude and product prices as well as petroleum trade flows. The quantitative results in the present report therefore supersede those in the first, although both sets are generally consistent.

The study sought to provide a comprehensive investigation of changes in the Organisation of Petroleum Exporting Countries (OPEC) crude oilprices, current-account balance, and current-account surplus investments abroad. The study emphasized analysis and, to some extent, quantification of the real value, or purchasing power, of OPEC oil revenues. The research approach was descriptive-elemental to expand upon characteristics of variables identified for the study. Research questions were answered by direct findings for each question. The method utilized for the study included document research and statistical analyses of data derived. The aim was to obtain complete and accurate information. The study compiled documented data regarding OPEC's crude oilprices, current-account balance, and current-account surplus investments abroad and analyzed the purchasing power of oil revenues as time passed and events occurred over the eight years from 1973 through 1980.

This analysis focuses on financial and operating trends of the oil and natural gas production business segment, often referred to as upstream operations, of 42 globaloil and natural gas producing companies

This analysis focuses on financial and operating trends of the oil and natural gas production business segment, often referred to as upstream operations, of 42 globaloil and natural gas producing companies

The East-West Center has received a research grant from the US Department of Energy's Office of Policy, Planning, and Analysis to study the impact of lower oilprices on OPEC production capacity, on export refineries, and petroleum trade. The project was later extended to include balance-of-payments scenarios and impacts on OPEC domestic demand. As the study progressed, a number of preliminary presentations were made at the US Department of Energy in order to receive feedback from DOE officials and to refine the focus of our analysis. During one of the presentations on June 4, 1987, the then Director of Division of Oil and Gas, John Stanley-Miller, advised us to focus our work on the Persian Gulf countries, since these countries were of special interest to the United States Government. Since then, our team has visited Iran, the United Arab Emirates, and Saudi Arabia and obtained detailed information from other countries. The political turmoil in the Gulf, the Iran/Iraq war, and the active US military presence have all worked to delay the final submission of our report. Even in countries where the United States has close ties, access to information has been difficult. In most countries, even mundane information on petroleum issues are treated as national secrets. As a result of these difficulties, we requested a one-year no cost extension to the grant and submitted an Interim Report in May 1988. As part of our grant extension request, we proposed to undertake additional tasks which appear in this report. 20 figs., 21 tabs.

This report presents a risk analysis of world conventional oil resource production, depletion, expansion, and a possible transition to unconventional oil resources such as oil sands, heavy oil and shale oil over the period 2000 to 2050. Risk analysis uses Monte Carlo simulation methods to produce a probability distribution of outcomes rather than a single value.

Growth in globaloil inventories slows, drawdown in stocks expected in late 2017 The growth in globaloil inventories is expected to slow in response to stronger growth in world oil demand, with inventories now expected to be drawn down during the second half of next year. In its new monthly forecast, the U.S. Energy Information Administration said oil inventories will grow by just under 1 million barrels per day this year. Inventories will continue to grow during the first half of 2017 though

Balancing Oil and Environment…Responsibly As the price of oil continues to skyrocket and globaloil production nears the brink, pursuing unconventional oil supplies, such as oil shale, oil sands, heavy oils, and oils from biomass and coal has become increasingly attractive. Of particular significance to the American way is that our continent has significant quantities of these resources. Tapping into these new resources, however, requires cutting-edge technologies for identification, production, processing and environmental management. This job needs a super hero or two for a job of this size and proportion…

This report summarizes the results of a survey of home heating oil and propane prices over the 1990/1991 heating season in Michigan. The survey was conducted under a cooperative agreement between the State of Michigan, Michigan Public Service Commission and the US Department of Energy (DOE), Energy Information Administration (EIA), and was funded by a grant from EIA. From October 1990 through May 1991, participating dealers/distributions were called and asked for their current residential retail prices of No. 2 home heating oil and propane. This information was then transmitted to the EIA, bi-monthly using an electronic reporting system called Petroleum Data Reporting Option (PEDRO). The survey was conducted using a sample provided by EIA of home heating oil and propane retailers which supply Michigan households. These retailers were contacted the first and third Mondays of each month. The sample was designed to account for distributors with different sales volumes, geographic distributions and sources of primary supply. It should be noted that this simple is different from the sample used in prior year surveys.

This report summarizes the results of a survey of home heating oil and propane prices over the 1990/1991 heating season in Michigan. The survey was conducted under a cooperative agreement between the State of Michigan, Michigan Public Service Commission and the US Department of Energy (DOE), Energy Information Administration (EIA), and was funded by a grant from EIA. From October 1990 through May 1991, participating dealers/distributions were called and asked for their current residential retail prices of No. 2 home heating oil and propane. This information was then transmitted to the EIA, bi-monthly using an electronic reporting system called Petroleum Data Reporting Option (PEDRO). The survey was conducted using a sample provided by EIA of home heating oil and propane retailers which supply Michigan households. These retailers were contacted the first and third Mondays of each month. The sample was designed to account for distributors with different sales volumes, geographic distributions and sources of primary supply. It should be noted that this simple is different from the sample used in prior year surveys.

Announces New Technology Partnership with Devon Energy at Global Research Oil & Gas Technology Center in Oklahoma City Click to email this to a friend (Opens in new window) Share on Facebook (Opens in new window) Click to share (Opens in new window) Click to share on LinkedIn (Opens in new window) Click to share on Tumblr (Opens in new window) GE Announces New Technology Partnership with Devon Energy at Global Research Oil & Gas Technology Center in Oklahoma City $125M global hub to

Newest APS Fellow Driving Groundbreaking Sensing Technology in Oil & Gas Click to email this to a friend (Opens in new window) Share on Facebook (Opens in new window) Click to share (Opens in new window) Click to share on LinkedIn (Opens in new window) Click to share on Tumblr (Opens in new window) Newest APS Fellow Driving Groundbreaking Sensing Technology in Oil & Gas Loucas Tsakalakos 2014.04.30 I'm writing to tell you all about a prestigious honor and a significant award that was

The 1973-1974 oil embargo brought national realization to the importance, and need for the collection and analysis of energy data. The Maine Office of Energy Resources (OER) is responsible for the establishment and implementation of energy plans and policies in the State of Maine. The Supply/Price Monitoring System has been created to assist energy planners both in Maine and the nation. This survey is used to analyze trends in home heating oil supply and price, and as a tool in responding to inquiries from: citizens, other state agencies, federal and local offices, and the Office of the Governor. This report will describe the Supply/Price Monitoring System, and the results obtained from the survey, during the period August 1, 1979 through May 31, 1980. Historical data is also provided as required by the aforementioned agreement between the OER and the US Department of Energy.

The 1973-1974 oil embargo brought national realization to the importance, and need for the collection and analysis of energy data. The Maine Office of Energy Resources (OER) is responsible for the establishment and implementation of energy plans and policies in the State of Maine. The Supply/Price Monitoring System has been created to assist energy planners both in Maine and the nation. This survey is used to analyze trends in home heating oil supply and price, and as a tool in responding to inquiries from: citizens, other state agencies, federal and local offices, and the Office of the Governor. This report will describe the Supply/Price Monitoring System, and the results obtained from the survey, during the period August 1, 1979 through May 31, 1980. Historical data are also provided as required by the aforementioned agreement between the OER and the US Department of Energy.

This study illuminates the fact that government petroleum regulations did not work as expected, and that they had contradictory and even destructive results. Using the methods and language of economic analysis, it also encompasses the broad social and political scope of the energy crisis, which is described as primarily a battle over the appropriate distribution of income within society, rather than the manifestation of some massive failure of markets and institutions to allocate the nation's resources effectively. One of the author's conclusions is that when policymakers address the income-transfer issue, they should use the straightforward mechanism of general income tax and welfare legislation. The book analyzes such topics as the position of the US oil industry in the international market, the Entitlements Program, and the effects of the Emergency Petroleum Allocation Act of 1973, the Energy Policy and Conservation Act of 1974, and the Crude Oil Windfall Profits Tax Act of 1980. 196 references, 30 figures, 35 tables.

Know-How Intersects at the New Oil & Gas Tech Center Click to email this to a friend (Opens in new window) Share on Facebook (Opens in new window) Click to share (Opens in new window) Click to share on LinkedIn (Opens in new window) Click to share on Tumblr (Opens in new window) Know-How Intersects at the New Oil & Gas Tech Center Jeremy Van Dam 2013.04.03 Hi, my name is Jeremy, and I'm a senior mechanical engineer at the GE Global Research Center in New York. My job is to figure out

Energy costs replaced maintenance costs on existing fixed assets as a determinant of optimal retirement age after the 1973-74 oil embargo. The economic aging of manufacturing facilities was the product of both normal wear-and-tear and design obsolescence. The adjustment, however, was toward substitution of other factors for capital services and replacement of outmoded asset types by other more expensive ones. The author examines data derived from a dynamic regression model showing that between 8 and 10% of an aggregate plant of the US became obsolete as a result of the embargo. 9 references, 1 figure, 3 tables.

The 1996 spike in gasoline prices was not a signal of any fundamental worldwide shortage of crude oil. But based on a review of many studies of recoverable crude oil that have been published since the 1950s, it looks as though such a shortfall is now within sight. With world demand for oil growing at 2 percent per year, global production is likely to peak between the years 2007 and 2014. As this time approaches, we can expect prices to rise markedly and, most likely, permanently. Policy changes are needed now to ease the transition to high-pricedoil. Oil production will continue, though at a declining rate, for many decades after its peak, and there are enormous amounts of coal, oil sands, heavy oil, and oil shales worldwide that could be used to produce liquid or gaseous substitutes for crude oil, albeit at higher prices. But the facilities for making such synthetic fuels are costly to build and environmentally damaging to operate, and their use would substantially increase carbon dioxide emissions (compared to emissions from products made from conventional crude oil). This paper examines ways of heading of the impending oil crisis. 8 refs., 3 figs.

The question that this study addresses is: What is the value of the new knowledge about climate change? If natural and social scientists succeed in improving their understanding, what will be the payoff in terms of improved economic performance? For example, if the uncertainties are resolved in favor of those who argue that global warming will be minimal or beneficial, then this knowledge will allow countries to avoid expensive investments in non-carbon energy technologies or in expensive conservation efforts. On the other hand, if the worst fears prove correct, then the globe can mend its ways early so as to prevent later dislocations, famines, or inundations. To the extent that the investments are expensive or the consequences are grave, early information can be extremely valuable. 15 refs., 8 figs.

November 2010 Short-Term Energy Outlook Energy Price Volatility and Forecast Uncertainty 1 November 9, 2010 Release Crude OilPrices. WTI crude oil spot prices averaged almost $82 per barrel in October, about $7 per barrel higher than the September average, as expectations of higher oil demand pushed up prices. EIA has raised the average fourth quarter 2010 WTI spot price forecast to about $83 per barrel compared with $79 per barrel in last monthʹs Outlook. WTI spot prices rise to $87 per

0 1 July 2010 Short-Term Energy Outlook Energy Price Volatility and Forecast Uncertainty 1 July 7, 2010 Release Crude OilPrices. WTI crude oil spot prices averaged $75.34 per barrel in June 2010 ($1.60 per barrel above the prior month's average), close to the $76 per barrel projected in the forecast in last month's Outlook. EIA projects WTI prices will average about $79 per barrel over the second half of this year and rise to $84 by the end of next year (West Texas Intermediate Crude OilPrice

In response to the questions posed by the US Secretary of Energy in October 2005, the National Petroleum Council conducted a comprehensive study considering the future of oil and natural gas to 2030 in the context of the global energy system. The Council proposed five core strategies to assist markets in meeting the energy challenges to 2030 and beyond. All five strategies are essential; there is no single, easy solution to the multiple challenges we face. However, we are confident that the prompt adoption of these strategies, along with a sustained commitment to implementation, will promote U.S. competitiveness by balancing economic, security, and environmental goals. The United States must: Moderate the growing demand for energy by increasing efficiency of transportation, residential, commercial, and industrial uses; Expand and diversify production from clean coal, nuclear, biomass, other renewables, and unconventional oil and gas; moderate the decline of conventional domestic oil and gas production; and increase access for development of new resources; Integrate energy policy into trade, economic, environmental, security, and foreign policies; strengthen global energy trade and investment; and broaden dialogue with both producing and consuming nations to improve global energy security; Enhance science and engineering capabilities and create long-term opportunities for research and development in all phases of the energy supply and demand system; and Develop the legal and regulatory framework to enable carbon capture and sequestration. In addition, as policymakers consider options to reduce carbon dioxide emissions, provide an effective global framework for carbon management, including establishment of a transparent, predictable, economy-wide cost for carbon dioxide emissions. The report, details findings and recommendations based on comprehensive analyses developed by the study teams. 5 apps.

The global energy system faces sweeping changes in the next few decades, with potentially critical implications for the global economy and the global environment. It is important that global institutions have the tools necessary to predict, analyze and plan for such massive change. This report summarizes the proceedings of an international workshop concerning methods of forecasting, analyzing, and planning for global energy transitions and their economic and environmental consequences. A specific case, it focused on the transition from conventional to unconventional oil and other energy sources likely to result from a peak in non-OPEC and/or global production of conventional oil. Leading energy models from around the world in government, academia and the private sector met, reviewed the state-of-the-art of global energy modeling and evaluated its ability to analyze and predict large-scale energy transitions.

April 2010 Short-Term Energy Outlook Energy Price Volatility and Forecast Uncertainty 1 April 6, 2010 Release Crude OilPrices. WTI crude oil spot prices averaged $81 per barrel in March 2010, almost $5 per barrel above the prior month's average and $3 per barrel higher than forecast in last month's Outlook. Oilprices rose from a low this year of $71.15 per barrel on February 5 to $80 per barrel by the end of February, generally on news of robust economic and energy demand growth in non-OECD

0 1 August 2010 Short-Term Energy Outlook Energy Price Volatility and Forecast Uncertainty 1 August 10, 2010 Release WTI crude oil spot prices averaged $76.32 per barrel in July 2010 or about $1 per barrel above the prior month's average, and close to the $77 per barrel projected in last month's Outlook. EIA projects WTI prices will average about $80 per barrel over the second half of this year and rise to $85 by the end of next year (West Texas Intermediate Crude OilPrice Chart). Energy price

December 2010 Short-Term Energy Outlook Energy Price Volatility and Forecast Uncertainty 1 December 7, 2010 Release Crude OilPrices. West Texas Intermediate (WTI) crude oil spot prices averaged over $84 per barrel in November, more than $2 per barrel higher than the October average. EIA has raised the average winter 2010-2011 period WTI spot price forecast by $1 per barrel from the last monthʹs Outlook to $84 per barrel. WTI spot prices rise to $89 per barrel by the end of next year, $2 per

March 2010 Short-Term Energy Outlook Energy Price Volatility and Forecast Uncertainty 1 March 9, 2010 Release Crude OilPrices. WTI crude oil spot prices averaged $76.39 per barrel in February 2010, almost $2 per barrel lower than the prior month's average and very near the $76 per barrel forecast in last month's Outlook. Last month, the WTI spot price reached a low of $71.15 on February 5 and peaked at $80.04 on February 22. EIA expects WTI prices to average above $80 per barrel this spring,

0 1 June 2010 Short-Term Energy Outlook Energy Price Volatility and Forecast Uncertainty 1 June 8, 2010 Release Crude OilPrices. WTI crude oil spot prices averaged less than $74 per barrel in May 2010, almost $11 per barrel below the prior month's average and $7 per barrel lower than forecast in last month's Outlook. EIA projects WTI prices will average about $79 per barrel over the second half of this year and rise to $84 by the end of next year, a decrease of about $3 per barrel from the

May 2010 Short-Term Energy Outlook Energy Price Volatility and Forecast Uncertainty 1 May 11, 2010 Release Crude OilPrices. WTI crude oil spot prices averaged $84 per barrel in April 2010, about $3 per barrel above the prior month's average and $2 per barrel higher than forecast in last month's Outlook. EIA projects WTI prices will average about $84 per barrel over the second half of this year and rise to $87 by the end of next year, an increase of about $2 per barrel from the previous Outlook

0 1 September 2010 Short-Term Energy Outlook Energy Price Volatility and Forecast Uncertainty 1 September 8, 2010 Release Crude OilPrices. West Texas Intermediate (WTI) crude oil spot prices averaged about $77 per barrel in August 2010, very close to the July average, but $3 per barrel lower than projected in last month's Outlook. WTI spot prices averaged almost $82 per barrel over the first 10 days of August but then fell by $9 per barrel over the next 2 weeks as the market reacted to a series

drivers to see lower average gasoline prices in 2013 and 2014 U.S. retail gasoline prices are expected to decline over the next two years. The average pump price for regular unleaded gasoline was $3.63 a gallon during 2012. That is expected to fall to $3.44 this year and then drop to $3.34 in 2014, according to the new forecast from the U.S. Energy Information Administration. Expected lower crude oilprices.....which accounted for about two-thirds of the price of gasoline in 2012....will

Two companion studies released recently should provide great food for thought among geo-political strategists and various national governments. If predictions contained in these Petroconsultants studies of oil and gas production trends for the next 10 years are realized, there will be great repercussions for net exporters and importers, alike. After analyzing and predicting trends within each of the world`s significant producing nations for the 1996--2005 period, the crude oil and condensate report concludes tat global production will jump nearly 24%. By contrast, worldwide gas output will leap 40%. The cast of characters among producers and exporters that will benefit from these increases varies considerably for each fuel. On the oil side, Russia and the OPEC members, particularly the Persian Gulf nations, will be back in the driver`s seat in terms of affecting export and pricing patterns. On the gas side, the leading producers will be an interesting mix of mostly non-OPEC countries. The reemergence of Persian Gulf oil producers, coupled with an anticipated long-term decline among top non-OPEC producing nations should present a sobering picture to government planners within large net importers, such as the US. They are likely to find themselves in much the same supply trap as was experienced in the 1970s, only this time the dependence on foreign oil supplies will be much worse. Gas supplies will not be similarly constrained, and some substitution for oil is probable. Here, two articles, ``World oil industry is set for transition`` and ``Worldwide gas surges forward in next decade,`` present a summary of the findings detailed in Petroconsultants` recent studies.

Pipeline and Distribution Use Price City Gate Price Residential Price Percentage of Total Residential Deliveries included in Prices Commercial Price Percentage of Total Commercial Deliveries included in Prices Industrial Price Percentage of Total Industrial Deliveries included in Prices Vehicle Fuel Price Electric Power Price Period: Monthly Annual Download Series History Download Series History Definitions, Sources & Notes Definitions, Sources & Notes Show Data By: Data Series Area 2010

In this issue, Energy Detente draws from their regular Western and Eastern Hemisphere Fuel Price/Tax Series, each produced monthly, and adds other survey data and analysis for a broad view of 48 countries around the world. They find that seven Latin American nations, including OPEC members Venezuela and Ecuador, are among the ten countries with lowest gasoline prices. In this Fourth Special Price Report, Energy Detente provides a first-time presentation of which prices are government-controlled, and which are free to respond to market forces. South Korea, with fixed prices since 1964, has the highest premium-grade gasoline price in our survey, US $5.38 per gallon. Paraguay, with prices fixed by PETROPAR, the national oil company, has the second highest premium gasoline price, US $4.21 per gallon. Nicaragua, also with government price controls, ranks third highest in the survey, with US $3.38 per gallon for premium gasoline. Kuwait shows the lowest price at US $0.55 per gallon. Several price changes from the previous survey reflect changes in currency exchange as all prices are converted to US dollars. The Energy Detente fuel price/tax series is presented for Western Hemisphere countries.

Presentation to: April 8, 2008 Lehman Brothers oil outlook: Stronger signals of weaker prices Adam Robinson What's driving oil markets today? u Not the short run: Oilprices go up every time the US economy gets worse u It's tempting to argue that the rise in oilprices now is simply a continuation of past trends - The cost of F&D continues to march up - Demand in China growing faster with no signs of slowdown - Upstream and downstream supply bottlenecks are permanent u We think current price

Gasoline markets in 1996 and 1997 provided several spectacular examples of petroleum market dynamics. The first occurred in spring 1996, when tight markets, following a long winter of high demand, resulted in rising crude oilprices just when gasoline prices exhibit their normal spring rise ahead of the summer driving season. Rising crude oilprices again pushed gasoline prices up at the end of 1996, but a warm winter and growing supplies weakened world crude oil markets, pushing down crude oil and gasoline prices during spring 1997. The 1996 and 1997 spring markets provided good examples of how crude oilprices can move gasoline prices both up and down, regardless of the state of the gasoline market in the United States. Both of these spring events were covered in prior Energy Information Administration (EIA) reports. As the summer of 1997 was coming to a close, consumers experienced yet another surge in gasoline prices. Unlike the previous increase in spring 1996, crude oil was not a factor. The late summer 1997 price increase was brought about by the supply/demand fundamentals in the gasoline markets, rather than the crude oil markets. The nature of the summer 1997 gasoline price increase raised questions regarding production and imports. Given very strong demand in July and August, the seemingly limited supply response required examination. In addition, the price increase that occurred on the West Coast during late summer exhibited behavior different than the increase east of the Rocky Mountains. Thus, the Petroleum Administration for Defense District (PADD) 5 region needed additional analysis (Appendix A). This report is a study of this late summer gasoline market and some of the important issues surrounding that event.

The petroleum products price module of the Short-Term Energy Outlook (STEO) model is designed to provide U.S. average wholesale and retail price forecasts for motor gasoline, diesel fuel, heating oil, and jet fuel.

The effects of Federal refined-product price controls upon the price of motor gasoline in the United States through 1977 are examined. A comparison of domestic and foreign gasoline prices is made, based on the prices of products actually moving in international trade. There is also an effort to ascribe US/foreign market price differentials to identifiable cost factors. Primary emphasis is on price comparisons at the wholesale level, although some retail comparisons are presented. The study also examines the extent to which product price controls are binding, and attempts to estimate what the price of motor gasoline would have been in the absence of controls. The time period under consideration is from 1969 through 1977, with primary focus on price relationships in 1970-1971 (just before US controls) and 1976-1977. The foreign-domestic comparisons are made with respect to four major US cities, namely, Boston, New York, New Orleans, and Los Angeles. 20 figures, 14 tables.

The report provides semiannual 20-year forecasts of electricity and primary fuel prices. Its purposes is to review current and past trends in energy prices as well as report on the California Energy Commission staff's periodic price forecasts. Both in actual and inflation-adjusted terms, energy prices are expected to continue to rise in the next 20 years, although not at the extreme rates witnessed during the 1973-1974 oil embargo and again in 1979. The impact of rising energy prices of electricity, natural gas, gasoline, coal, and petroleum on a hypothetical California household's energy bill (based on estimated 1980 consumption) is characterized. Although price increases will not be easy to sustain, the proven and anticipated abilities of households and businesses to adjust to higher prices will mitigate the impacts of higher energy prices so that they are consistent with a growing state economy and improved standard of living.

An energy policy based on decontrol and high energy prices to allocate resources is examined and found wanting. An economic penalty results when the oil companies can operate as a virtual monopoly to set prices for other fuels as well as oil. The impact on consumers is a lowered standard of living and social inequity. Government intervention that is pro-competition is shown to be as inadequate as price control. A list of twelve measures that would moderate the economic losses and still encourage energy production and conservation include strong antitrust action, an active federal coal leasing program, competitive coal transactions, limits on severance taxes, a permanent windfall profits tax, and direct subsidy programs. (DCK)

This paper describes a methodology for evaluating an optimal set of transmission prices, to be charged for use of a transmission system on a time-of-use basis. The transmission prices are determined by maximizing the global benefit of using the transmission system that allocates both capacity and operational costs. The security considerations are explicitly taken into account by incorporating security factors in the algorithm. The important issue of revenue recovery by the transmission utility is addressed by modifying the optimum prices without affecting the consumer behavior. This can be achieved by setting the prices within indifference intervals over which consumers are insensitive to transmission prices. Application of the methodology is illustrated on the IEEE 24 bus test system.

Cold production, wormholes, foamy oil mechanism, improvements in thermal methods, and horizontal wells are some of the processes and technologies enabling expansion of the world`s heavy oil/bitumen production. Such processes were the focus of the International Heavy Oil Symposium in Calgary, June 19--21. Unlike conventional oil production, heavy oil/bitumen extraction is more a manufacturing process where technology enables the business and does not just add value. The current low price spreads between heavy oil/light oil indicate that demand for heavy oil is high. The paper first discusses the price difference between heavy and light oils, then describes heavy oil production activities in Canada at Cold Lake, in Venezuela in the Orinoco belt, and at Kern River in California.

Oilprices are slipping despite OPEC's efforts to prop them up by cutting production. Abundant oil and slack demand will press prices into a substantial drop. That portends more growth, less inflation, and good news for industries, especially the airline and automobile industries. Banks and some oil companies could be hurt, but chemical and steel companies will benefit. Concerns that the country will drop conservation efforts overlook the efficiency improvements already embedded in new machinery and automobiles and the insulation installed in buildings.

This report examines a recurring question about gasoline markets: why, especially in times of high price volatility, do retail gasoline prices seem to rise quickly but fall back more slowly? Do gasoline prices actually rise faster than they fall, or does this just appear to be the case because people tend to pay more attention to prices when they`re rising? This question is more complex than it might appear to be initially, and it has been addressed by numerous analysts in government, academia and industry. The question is very important, because perceived problems with retail gasoline pricing have been used in arguments for government regulation of prices. The phenomenon of prices at different market levels tending to move differently relative to each other depending on direction is known as price asymmetry. This report summarizes the previous work on gasoline price asymmetry and provides a method for testing for asymmetry in a wide variety of situations. The major finding of this paper is that there is some amount of asymmetry and pattern asymmetry, especially at the retail level, in the Midwestern states that are the focus of the analysis. Nevertheless, both the amount asymmetry and pattern asymmetry are relatively small. In addition, much of the pattern asymmetry detected in this and previous studies could be a statistical artifact caused by the time lags between price changes at different points in the gasoline distribution system. In other words, retail gasoline prices do sometimes rise faster than they fall, but this is largely a lagged market response to an upward shock in the underlying wholesale gasoline or crude oilprices, followed by a return toward the previous baseline. After consistent time lags are factored out, most apparent asymmetry disappears.

Diesel prices flat The U.S. average retail price for on-highway diesel fuel saw no movement from last week. Prices remained flat at $3.89 a gallon on Monday, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the West Coast states at 4.05 a gallon, up 2-tenths of a penny from a week ago. Prices were lowest in the Gulf Coast region at 3.80 a gallon, up 3-tenths of a penny

Iran`s oil and gas production and exports constitute the country`s main source of foreign exchange earnings. The future level of these earnings will depend on oilprices, global demand for Iranian exports, the country`s productive capability and domestic consumption. The size of Iranian oil reserves suggests that, in principle, present productive capacity could be maintained and expanded. However, the greatest share of production in coming years still will come from fields that already have produced for several decades. In spite of significant remaining reserves, these fields are not nearly as prolific as they were in their early years. The operations required for further development are now more complicated and, in particular, more costly. These fields` size also implies that improving production, and instituting secondary and tertiary recovery methods (such as gas injection), will require mega-scale operations. This article discusses future oil and gas export revenues from the Islamic Republic of Iran, emphasizing the country`s future production and commenting on the effects of proposed US sanctions.

propane price increases The average retail price for propane is $2.02 per gallon, up 4-tenths of a cent from last week, based on the residential heating fuel survey by the U.S. Energy Information Administration. Propane prices in the Midwest region averaged $1.48 per gallon, down 1-tenth of a cent from last week, and down 43

Diesel prices decrease The U.S. average retail price for on-highway diesel fuel fell to $4.05 a gallon on Monday. That's down 4.1 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the New England region at 4.20 a gallon, down 3.9 cents from a week ago. Prices were lowest in the Rocky Mountain States at 3.97 a gallon, down 3.9 cents

Diesel prices decrease The U.S. average retail price for on-highway diesel fuel fell to $3.88 a gallon on Monday. That's down a penny from a week ago, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the New England region at 3.99 a gallon, remaining unchanged from a week ago. Prices were lowest in the Gulf Coast region at 3.78 a gallon, also unchanged from a week ago.

Diesel prices decrease The U.S. average retail price for on-highway diesel fuel fell to $3.85 a gallon on Monday. That's down 2 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the New England region at 3.98 a gallon, down 6-tenths of a penny from a week ago. Prices were lowest in the Gulf Coast region at 3.75 a gallon, down 2.2 cents.

Diesel prices decrease The U.S. average retail price for on-highway diesel fuel fell to $3.82 a gallon on Monday. That's down 2.1 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the New England region at 3.97 a gallon, down 1.3 cents from a week ago. Prices were lowest in the Lower Atlantic and the Gulf Coast regions at 3.73 a gallon

Diesel prices decrease The U.S. average retail price for on-highway diesel fuel fell to $3.87 a gallon on Monday. That's down 1.6 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the West Coast states at 4.04 a gallon, down 1.3 cents from a week ago. Prices were lowest in the Gulf Coast region at 3.78 a gallon, down 1

Diesel prices decrease The U.S. average retail price for on-highway diesel fuel fell to $3.88 a gallon on Monday. That's down 0.4 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the New England region at 4.07 a gallon, up 2.6 cents from a week ago. Prices were lowest in the Gulf Coast region at 3.77 a gallon, down 0.7 cents. This is Marlana Anderson, with EIA, in Washington. For more information, contact Marlana

Diesel prices decrease slightly The U.S. average retail price for on-highway diesel fuel fell slightly to $3.84 a gallon on Monday. That's down 3-tenths of a penny from a week ago, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the New England region at 3.98 a gallon, up 4-tenths of a penny from a week ago. Prices were lowest in the Gulf Coast region at 3.74 a gallon, down a tenth of a penny.

Diesel prices flat nationally The U.S. average retail price for on-highway diesel fuel remained the same from a week ago at $3.98 a gallon on Monday, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the West Coast states at 4.14 a gallon, up 1.4 cents from a week ago. Prices were lowest in the Gulf Coast region at 3.90 a gallon, up a tenth of a penny.

Diesel prices increase The U.S. average retail price for on-highway diesel fuel rose to $3.84 a gallon on Monday. That's up 2.2 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the New England region at $4.00 a gallon, up 2.2 cents from a week ago. Prices were lowest in the Gulf Coast region at 3.75 a gallon, up 8-tenths of a penny. This is Marlana Anderson, with EIA, in Washington. For more information, contact

Diesel prices increase The U.S. average retail price for on-highway diesel fuel rose to $3.90 a gallon on Monday. That's up 3 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the New England region at 4.11 a gallon, up 4.2 cents from a week ago. Prices were lowest in the Gulf Coast states at 3.79 a gallon, up 1.7 cents.

Diesel prices increase nationally The U.S. average retail price for on-highway diesel fuel rose to $3.91 a gallon on Monday. That's up 1.3 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the West Coast states at 4.07 a gallon, up 1 1/2 cents from a week ago. Prices were lowest in the Gulf Coast region at 3.83 a gallon, up 7-tenths of a penny.

Diesel prices rise slightly The U.S. average retail price for on-highway diesel fuel rose slightly to $4.16 a gallon on Monday. That's up 2-tenths of a penny from a week ago, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the New England region at 4.34 a gallon, up a penny from a week ago. Prices were lowest in the Rocky Mountain States at 4.06 a gallon, up 2 1/

Diesel prices slightly decrease The U.S. average retail price for on-highway diesel fuel fell to $3.87 a gallon on Monday. That's down 1.1 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the New England region at 3.98 a gallon, down 7-tenths of a penny from a week ago. Prices were lowest in the Gulf Coast region at 3.77 a gallon, down half a penny. This is Amerine Woodyard, with EIA, in

Diesel prices slightly decrease The U.S. average retail price for on-highway diesel fuel fell slightly to $3.84 a gallon on Monday. That's down 8-tenths of a penny from a week ago, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the New England region at 3.98 a gallon, up 2-tenths of a penny from a week ago. Prices were lowest in the Gulf Coast region at 3.74 a gallon, down 7-tenths of a penny.

Diesel prices slightly increase The U.S. average retail price for on-highway diesel fuel rose slightly to $3.87 a gallon on Monday. That's up 2-tenths of a penny from a week ago, based on the weekly price survey by the U.S. Energy Information Administration. Diesel prices were highest in the New England region at 4.07 a gallon, up half a penny from a week ago. Prices were lowest in the Gulf Coast states at 3.77 a gallon, up 6-tenths of a penny.

The authors present an analysis of the year 1988 in the Canadian oil and gas industry. With budgets underpinned by price expectations of $17/bbl to $18/bbl for WTI crude, optimism pervaded industry at the beginning of the year. Budget plans called for total spending of some C$7.6 billion, an increase of 25% over the C$6.1 invested in 1987. Drilling plans would have made 1988 the fourth best year on record with total well completions close to the 9,000-well mark. The year started strongly, as prices performed close to expectations. When prices began to soften and no reversal was apparent, corporate expenditures began to be adjusted in the second half.

The effects of the incremental pricing of natural gas - provided for by the Natural Gas Policy Act of 1978 - are discussed. Under this legislation, industrial rates will actually increase more than the amount required by incremental pricing. Some residential customers will subsidize others at rates that will be higher than those before incremental pricing, while other residential customers could conceivably receive free service. Meanwhile, a trend of customers shifting from one utility to another could develop. Although some utilities will be prevented economically from expanding their service areas, others will be granted economic advantages for expanding, leading in some instances to the possible violation of antitrust laws. Under the act, government tax revenues will ultimately be reduced and the costs of natural gas service will increase. In the end, natural gas utilities and their industrial customers will experience accusations of overpricing similar to those currently made against oil companies.

Based on Energy Information Administration (EIA) contacts and trade press reports, overall U.S. and globaloil supplies appear to have been minimally impacted by yesterday's terrorist attacks on the World Trade Center and the Pentagon.

Lower gasoline prices ahead U.S. retail gasoline prices are expected to continue falling through the end of 2016, even though gasoline demand is projected to remain strong. In its new monthly forecast, the U.S. Energy Information Administration said the average monthly price for regular-grade gasoline is expected to decline to $1.92 a gallon by December the lowest for the month in eight years. Lower motor fuel prices are expected in the coming months, despite gasoline demand this year that is on

Residential heating oilprice increases The average retail price for home heating oil rose 2 cents from a week ago to $2.44 per gallon. That's down $1.08 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region rose to $2.38 per gallon, up 1.7 cents from last week, and down $1.11 from a year ago. This is Marcela Rourk, with EIA, in Washington.

Residential heating oilprice decreases The average retail price for home heating oil fell 1.2 cents from a week ago to $2.43 per gallon. That's down $1.05 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.37 per gallon, down 6-tenths of a cent from last week, and down $1.07 from a year ago. This is Marcela Rourk, with EIA, in Washington.

Residential heating oilprice decreases The average retail price for home heating oil fell 8-tenths of a cent from a week ago to $2.42 per gallon. That's down $1.03 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.37 per gallon, down 2-tenths of a cent from last week, and down $1.04 from a year ago. This is Marcela Rourk, with EIA, in Washington.

Residential heating oilprice increases The average retail price for home heating oil rose 3-tenths of a cent from a week ago to $2.43 per gallon. That's down $1.01 from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region rose to $2.37 per gallon, up 1-tenth of a cent from last week, and down $1.01 from a year ago. This is Marcela Rourk, with EIA, in Washington.

Residential heating oilprice increases The average retail price for home heating oil rose 4-tenths of a cent from a week ago to $2.43 per gallon. That's down 99 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region rose to $2.37 per gallon, up 6-tenths of a cent from last week, and down 99 cents from a year ago. This is Marcela Rourk, with EIA, in Washington.

Residential heating oilprice decreases The average retail price for home heating oil fell 3.1 cents from a week ago to $2.40 per gallon. That's down 99 cents from a year ago, based on the residential heating fuel survey by the U.S. Energy Information Administration. Heating oilprices in the New England region fell to $2.35 per gallon, down 2.7 cents from last week, and down 98 cents from a year ago. This is Marcela Rourk, with EIA, in Washington.

all Petroleum Reports Heating Oil and Propane Update Note: The heating season is over. Data for residential and wholesale prices for heating oil and propane will return in October 2016. Weekly heating oil and propane prices are only collected during the heating season, which extends from October through March. Propane Heating oil Residential propane graphs Residential Propane (dollars per gallon)more price data › change from 03/28/16 week ago year ago U.S. Average 2.008 -0.006 -0.284 East

This study utilizes existing data sources and previous analyses of state-level energy prices to develop consistent state-level energy prices series by fuel type and by end-use sector. The fuels are electricity, natural gas, coal, distillate fuel oil, motor gasoline, diesel, kerosene, jet fuel, residual fuel, and liquefied petroleum gas. The end-use sectors are residential, commercial, industrial, transportation, and electric utility. Based upon an evaluation of existing data sources, recommendations were formulated on the feasible approaches for developing a consistent state energy price series. The data series were compiled based upon the approaches approved after a formal EIA review. Detailed documentation was provided, including annual updating procedures. Recommendations were formulated for future improvements in the collection of data or in data processing. Generally, the geographical coverage includes the 50 states and the District of Columbia. Information on state-level energy use was generally taken from the State Energy Data System (SEDS). Corresponding average US prices are also developed using volumes reported in SEDS. To the extent possible, the prices developed are quantity weighted average retail prices. Both a Btu price series and a physical unit price series are developed for each fuel. The period covered by the data series is 1970 through 1980 for most fuels, though prices for electricity and natural gas extend back to 1960. (PSB)

Respondents Q1: What is the purpose of this survey? The U.S. Energy Information Administration (EIA) Form EIA-877, "Winter Heating Fuels Telephone Survey," is designed to collect data on State-level stocks and residential prices of No. 2 heating oil and propane during the heating season. The data are used to monitor the prices of propane and No. 2 heating oil during the heating season, and to report to the Congress and others when requested. Q2: How does the survey work? The EIA-877

Chokepoints are narrow channels along widely used global sea routes, some so narrow that restrictions are placed on the size of vessel that can navigate through them. They are a critical part of global energy security due to the high volume of oil traded through their narrow straits.

1999 Oil Overcharge Refund Cases 1999 During the period 1973 through 1981, the Federal government imposed price and allocation controls of crude oil and refined petroleum products, such as gasoline and heating oil. During that period and for many years afterwards, the DOE had an enforcement program. When a firm was found to have overcharged, the DOE generally required the firm to make refunds to its customers. However, because of the price controls in place at the time and the manner in which

As increasingly large volumes of sophisticated options (called derivative securities) are traded in world financial markets, determining a fair price for these options has become an important and difficult computational problem. Many valuation codes use the binomial pricing model, in which the stock price is driven by a random walk. In this model, the value of an n-period option on a stock is the expected time-discounted value of the future cash flow on an n-period stock price path. Path-dependent options are particularly difficult to value since the future cash flow depends on the entire stock price path rather than on just the final stock price. Currently such options are approximately priced by Monte carlo methods with error bounds that hold only with high probability and which are reduced by increasing the number of simulation runs. In this paper the authors show that pricing an arbitrary path-dependent option is {number_sign}-P hard. They show that certain types f path-dependent options can be valued exactly in polynomial time. Asian options are path-dependent options that are particularly hard to price, and for these they design deterministic polynomial-time approximate algorithms. They show that the value of a perpetual American put option (which can be computed in constant time) is in many cases a good approximation to the value of an otherwise identical n-period American put option. In contrast to Monte Carlo methods, the algorithms have guaranteed error bounds that are polynormally small (and in some cases exponentially small) in the maturity n. For the error analysis they derive large-deviation results for random walks that may be of independent interest.

Oil shale is undoubtedly an excellent energy source that has great abundance and world-wide distribution. Oil shale industries have seen ups and downs over more than 100 years, depending on the availability and price of conventional petroleum crudes. Market forces as well as environmental factors will greatly affect the interest in development of oil shale. Besides competing with conventional crude oil and natural gas, shale oil will have to compete favorably with coal-derived fuels for similar markets. Crude shale oil is obtained from oil shale by a relatively simple process called retorting. However, the process economics are greatly affected by the thermal efficiencies, the richness of shale, the mass transfer effectiveness, the conversion efficiency, the design of retort, the environmental post-treatment, etc. A great many process ideas and patents related to the oil shale pyrolysis have been developed; however, relatively few field and engineering data have been published. Due to the vast heterogeneity of oil shale and to the complexities of physicochemical process mechanisms, scientific or technological generalization of oil shale retorting is difficult to achieve. Dwindling supplied of worldwide petroleum reserves, as well as the unprecedented appetite of mankind for clean liquid fuel, has made the public concern for future energy market grow rapidly. the clean coal technology and the alternate fuel technology are currently of great significance not only to policy makers, but also to process and chemical researchers. In this book, efforts have been made to make a comprehensive text for the science and technology of oil shale utilization. Therefore, subjects dealing with the terminological definitions, geology and petrology, chemistry, characterization, process engineering, mathematical modeling, chemical reaction engineering, experimental methods, and statistical experimental design, etc. are covered in detail.

The history of oil shale in the United States since the early 1900's is detailed. Research on western oil shale probably began with the work of Robert Catlin in 1915. During the next 15 years there was considerable interest in the oil shales, and oil shale claims were located, and a few recovery plants were erected in Colorado, Nevada, Utah, Wyoming, and Montana. Little shale soil was produced, however, and the major oil companies showed little interest in producing shale oil. The early boom in shale oil saw less than 15 plants produce a total of less than 15,000 barrels of shale oil, all but about 500 barrels of which was produced by the Catlin Operation in Nevada and by the US Bureau of Mines Rulison, Colorado operation. Between 1930 and 1944 plentiful petroleum supplies at reasonable prices prevent any significant interest in shale oil, but oil shortages during World War II caused a resurgence of interest in oil shale. Between 1940 and 1969, the first large-scale mining and retorting operations in soil shale, and the first attempts at true in situ recovery of shale oil began. Only 75,000 barrels of shale oil were produced, but major advancements were made in developing mine designs and technology, and in retort design and technology. The oil embargo of 1973 together with a new offering of oil shale leases by the Government in 1974 resulted in the most concentrated efforts for shale oil production to date. These efforts and the future prospects for shale oil as an energy source in the US are discussed.

The Energy Information Administration introduced a monthly analysis of energy price volatility and forecast uncertainty in the October 2009 Short-Term Energy Outlook (STEO). Included in the analysis were charts portraying confidence intervals around the New York Mercantile Exchange (NYMEX) futures prices of West Texas Intermediate (equivalent to light sweet crude oil) and Henry Hub natural gas contracts.

The eleventh Energy Modeling Forum (EMF) working group met four times over the 1989--1990 period to compare alternative perspectives on international oil supplies and demands through 2010 and to discuss how alternative supply and demand trends influence the world's dependence upon Middle Eastern oil. Proprietors of eleven economic models of the world oil market used their respective models to simulate a dozen scenarios using standardized assumptions. From its inception, the study was not designed to focus on the short-run impacts of disruptions on oil markets. Nor did the working group attempt to provide a forecast or just a single view of the likely future path for oilprices. The model results guided the group's thinking about many important longer-run market relationships and helped to identify differences of opinion about future oil supplies, demands, and dependence.

The eleventh Energy Modeling Forum (EMF) working group met four times over the 1989--90 period to compare alternative perspectives on international oil supplies and demands through 2010 and to discuss how alternative supply and demand trends influence the world's dependence upon Middle Eastern oil. Proprietors of eleven economic models of the world oil market used their respective models to simulate a dozen scenarios using standardized assumptions. From its inception, the study was not designed to focus on the short-run impacts of disruptions on oil markets. Nor did the working group attempt to provide a forecast or just a single view of the likely future path for oilprices. The model results guided the group's thinking about many important longer-run market relationships and helped to identify differences of opinion about future oil supplies, demands, and dependence.

Presents the results of an analysis that focuses on two questions: (1) How are prices for competitive generation services likely to differ from regulated prices if competitive prices are based on marginal costs rather than regulated cost-of-service pricing? (2) What impacts will the competitive pricing of generation services (based on marginal costs) have on electricity consumption patterns, production costs, and the financial integrity of electricity suppliers?

Illustrates a third impact of the move to competitive generation pricing -- the narrowing of the range of prices across regions of the country. This feature article updates information in Electricity Prices in a Competitive Environment: Marginal Cost Pricing of Generation Services and Financial Status of Electric Utilities.

Stephanie Price Stephanie Price Stephanie Price - Communicator, National Renewable Energy Laboratory Stephanie Price is a communicator at the National Renewable Energy Laboratory, which assists EERE in providing technical content for many of its websites. Most Recent Updating the Doors and Windows August 23 My Energy Audit, Part 2: Windows July 9 My Energy Audit, Part 1: Heating June 6

This report responds to a July 13, 2006 request from Chairman Jeff Bingaman of the Senate Committee on Energy and Natural Resources requested that the Energy Information Administration conduct a study of the impact that refinery shutdowns have had on the price of oil and gasoline.

December 17, 2001 his is the fifth issue of the Clean Cities Alternative Fuel Price Report, a quarterly newsletter keeping you up to date on the price of alternative fuels in the U.S. and their relation to gasoline and diesel prices. This issue discusses prices that were gathered from Clean Cities coordinators and stakeholders during the weeks of October 15 and October 22, 2001, with comparisons to the prices in the previous Price Report for the week of June 4, 2001. Gasoline and Diesel Prices

Prompted by the contemporaneous spike in coal, oil, and natural gas prices, this paper evaluates the degree of market integration both within and between crude oil, coal, and natural gas markets. Our approach yields parameters that can be readily tested against a priori conjectures. Using daily price data for five very different crude oils, we conclude that the world oil market is a single, highly integrated economic market. On the other hand, coal prices at five trading locations across the United States are cointegrated, but the degree of market integration is much weaker, particularly between Western and Eastern coals. Finally, we show that crude oil, coal, and natural gas markets are only very weakly integrated. Our results indicate that there is not a primary energy market. Despite current price peaks, it is not useful to think of a primary energy market, except in a very long run context.

The following is a report of New Hampshire's participation in the State Heating Oil and Propane Program (SHOPS) for the 1990--91 heating season. The program is a joint effort between participating states and the Department of Energy (DOE), Energy Information Administration (EYE) to collect retail price data for heating oil and propane through phone surveys of 25 oil and 20 propane retailers in New Hampshire. SHOPS is funded through matching grants from DOE and the participating state. (VC)

Diesel prices up this week The U.S. average retail price for on-highway diesel fuel rose sharply to $4.10 a gallon on Monday. That's up 8.2 cents from a week ago and 17.7 cents from two weeks ago, based on the weekly price survey by the U.S. Energy Information Administration. Prices rose by 3 cents from last week in the New England region and by 10 cents in the West Coast states bringing the highest average prices at 4.27 a gallon in both regions. Prices were lowest in the Rocky Mountain States

In ''The Ethics of Dynamic Pricing,'' Ahmad Faruqui lays out a case for improved efficiency in using dynamic prices for retail electricity tariffs and addresses various issues about the distributional effects of alternative pricing mechanisms. The principal contrast is between flat or nearly constant energy prices and time-varying prices that reflect more closely the marginal costs of energy and capacity. The related issues of fairness criteria, contracts, risk allocation, cost allocation, means testing, real-time pricing, and ethical policies of electricity market design also must be considered. (author)

1929-2015 | Department of Energy 915: March 7, 2016 Average Historical Annual Gasoline Pump Price, 1929-2015 Fact #915: March 7, 2016 Average Historical Annual Gasoline Pump Price, 1929-2015 SUBSCRIBE to the Fact of the Week When adjusted for inflation, the average annual price of gasoline has fluctuated greatly, and has recently experienced sharp increases and decreases. The effect of the U.S. embargo of oil from Iran can be seen in the early 1980's with the price of gasoline peaking in

Summer gasoline price forecast slightly higher, but drivers still pay less than last year Rising crude oilprices are likely to be passed on to consumers at the pump, but U.S. drivers are still expected to pay the lowest summer gasoline prices since 2004, and for all of 2016 the average household will spend $900 less on gasoline than it did two years ago." In its new monthly forecast, the U.S. Energy Information Administration said the retail price for regular grade gasoline will average

Nationwide average gasoline price to fall below $2 a gallon in January The national average price of regular gasoline is expected to drop below $2 per gallon this month and hover near the $2 level through most of this year, as lower crude oilprices translate into more savings for consumers at the pump. In its new monthly forecast, the U.S. Energy Information Administration said the retail price for regular-grade gasoline averages $1.90 per gallon in February. That's the lowest level in seven

The sharp increases in crude oilprices in the 1970`s unleashed a gusher of economic and policy analyses concerning energy security. A consensus emerged concerning the desirability of building and using a large stock of oil to cushion the effects of a sudden loss of oil supply. The author examines the validity of this large stock of oil considering changes in the oil market and whether the oil holdings of the Strategic Petroleum Reserve should be privatized. 12 refs.